Axis Capital said on 2 October it may offer €3.20 a share in cash for Permanent TSB, valuing the bank at around €1.74bn. That is above the €2.97 per share BAWAG agreed to pay.
Market context
PTSB shareholders approved the BAWAG scheme in July and the Irish state, which owns about 57%, has backed it. PTSB said no offer had been made by Axis and that it remains focused on completing the BAWAG deal.
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